Wednesday, April 7, 2010

Weak Euro

Shorted EUR/USD at GMT10:30 at 1.3372 with profit target of 50 pips, however closed it manually after more than 2 hours with only 29 pips for a 2.1% gain. Great...so far the current week gain is at 3.2%. I believed that this pair has the potential to go down further. Euro looked to be the weakest currency at the moment on concern of Greece debt. I was hesitating to closed it for a while as it is only 20 pips away from the full profit target. Well, 29 pips gained is better than nothing. However, I do noticed other currencies were at the consolidation point and some are showing signs of reversal, hence the decision to close it early. That's it for today.

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